Ask in the PSE forum about special procedures.
Moving this discussion to the Photoshop Elements forum.
Open the PSE11 Organizer and on the and on the menu click:
File >> Manage Catalogs
Click the convert button.
Choose your previous catalog from the list, then click Convert again.
The link will guide you for catalog conversion with various aspects liek tags etc as the UI has changed now and it`s all under various rooms namely Places/People/Events